Via d'uscita dal labirinto del debito

Translated title of the contribution: [Autom. eng. transl.] Way out of the debt labyrinth

Marco Fortis

Research output: Working paper

Abstract

[Autom. eng. transl.] The entire advanced world has been lost in the maze of debt, from which it is very difficult to get out once you have entered it, as the Italian experience shows. In fact, a country like ours, with a public debt of 1,900 billion euros largely inherited from the past, if it wants to keep this debt simply unchanged in absolute terms must achieve a strictly balanced state budget. Which means not only having more revenue than operating expenses but also being able to pay the huge interest on the debt itself, currently at around 80 billion a year. To "neutralize" this figure, our primary surplus should already be of equal size, or about 5 points of GDP. Leaving the maze of public debt will not be easy either for Italy or for the Eurozone without the Ariadne thread of the Eurounionbond proposed by Romano Prodi and Alberto Quadrio Curzio.
Translated title of the contribution[Autom. eng. transl.] Way out of the debt labyrinth
Original languageItalian
Number of pages3
Publication statusPublished - 2011
Externally publishedYes

Keywords

  • Public debt
  • debito pubblico
  • eurounionbond
  • public debt to GDP ratio
  • rapporto debito pubblico/Pil

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